Savannah Petroleum, the British independent oil and gas company focused around oil and gas activities in Niger and Nigeria, has announced an update on the Seven Energy Transaction. Further to the Company’s announcement on 20 September 2018 regarding the gas for oil swap with Frontier Oil and the buy-out of minority shareholders in Universal Energy…
Eko Electricity Distribution Company (EKEDC) has announced an outage of power in Ikoyi and is environs. It said it wished to inform its esteemed customers in Banana Island and other parts of Ikoyi that the current power outage being experienced is due to faulty equipment at its injection substation. It however noted that repair work…
Spot trade in Nigerian cargoes remained slow on Wednesday, thanks to a stalemate that has developed between the owners of physical barrels and the buyers that believe offers are too high. Nigerian Bonny Light, Bonga and Qua Iboe were offered at around dated Brent plus $1.75 a barrel, unchanged from the previous day, but found…
The Federal Government is considering a number of options, including cost-reflective tariffs and injecting new investors into the electricity distribution and generating companies so as to revive the firms, the Bureau of Public Enterprises has said. The Director General, BPE, Mr Alex Okoh, said this in an interview with journalists during the presentation of certificates…
RensourceEnergy, a leading Lagos-based distributed energy services company, today announced an investment of an undisclosed amount in its first microutility project Sabon Gari Energy by Paris-based NEoT Offgrid Africa. NEoT Offgrid Africa, which is managed by NEoT Capital, is a platform investing in distributed renewable energy projects in Africa and is backed by infrastructure development giant, Meridiam, and France’s electric utility,…
The Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Mohammad Sanusi Barkindo, has said India is an extremely important partner for the OPEC and the organization was determined to continue strengthening the relationship. Barkindo said this at the third high-level meeting of the OPEC-India Energy Dialogue held in New Delhi, India. India has…
Minister of State for Environment, Alhaji Ibrahim Jibril, says the Federal Government will spend N10.6 billion Green Bond to execute its Energising Education Programme. Jibril told the News Agency of Nigeria (NAN) in Abuja on Thursday, October 25, 2018 on the sideline of the ministry’s preparation for the 12th National Council on Environment meeting that…
A report on the state of the environment and socio-economic conditions in fragile ecosystems reveals the extent of land degradation in dryland Africa and shows how closely it is related to hunger and poverty. The report’s authors make an urgent call for increased investment in land restoration for small-scale farmers. The report was carried out…
Director, Department of Climate Change in the Federal Ministry of Environment, Dr Peter Tarfa (left), with Director General/CEO of the National Biosafety Management Agency (NBMA), Dr. Rufus Ebegba, during a session at the National Council on Environment in Akure, Ondo State Following the successful issuance of its first Sovereign Green Bond, Nigeria has embarked…
To successfully deliver on the targets of the Sustainable Development Goals, conscious and strategic efforts must be made by leaders at public and private sectors to systematically address the perennial challenges of extreme poverty. The call was made by the Senior Special Assistant to the President on Sustainable Development Goals, Princess Adejoke Orelope-Adefulire, in her…
